The Big 12 has seen some drastic changes in recent years.
Realignment, Texas and Oklahoma heading to the SEC, but reports emerged Thursday that could be the most noticeable of the all.
Multiple news outlets indicated the Big 12 is looking into entering a “naming-rights partnership” that could become one of the “most lucrative and unique sponsorship deals in college athletics history.”
Ross Dellenger of Yahoo Sports reported that commissioner Brett Yormark introduced a concept that would be worth hundreds of millions of dollars in meetings with league administrators two weeks ago in Dallas. Under the proposed agreement, the Big 12’s name would incorporate a sponsor’s name in the title, with a possible option of a company name replacing the “Big” in “Big 12.” Several corporations are expected to be involved in the process.
Postseason bowl games have made this a common practice, such as the Capital One Orange Bowl and Goodyear Cotton Bowl. However, no major conference in recent history has sold its naming rights.
ESPN’s Pete Thamel said on X such a deal, not including any media or television rights, would be one of the largest commercial deals in collegiate athletics history.
A decision on the naming rights move isn’t imminent, but reportedly expected in the upcoming months. The conference has explored this option for months as a creative way to generate revenue, both for the conference and for schools individually.
The proposal comes along with reports that the Big 12 is also considering a “first-of-its kind private equity investment” to ensure the league’s long-term security.
CBS Sports’ Dennis Dodd reports a possible cash infusion of “$800 million to $1 billion” is on the table from CVC Capital Partners in exchange for a 15% to 20% stake in the Big 12. The conference would make such a deal to help reach the higher revenues streams other conferences like the Big 10 and SEC make on their television rights deals, opposed to the Big 12′s current agreements.
According to Dodd, it is not clear how soon a deal could be completed or when any money would land it the wallets of the Big 12 should the two sides reach an agreement.
Yormark has made his presence felt infusing new revenue and advertising streams into the conference since his transition from being the chief operating officer at Roc Nation.
Last season’s Big 12 football title game, for example, was highlighted by a halftime performance by Nelly, plus an in-game partnership with WWE.
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